RPR valuation from Realtor.com gives it a median value at $295k and nothing currently in the Eagle Crest Dr condo area comes close to it's fine condition, excellent exterior and sun light exposure or offering a 502 s.f. outdoor living deck. I'd need to do more CMA research, but the immediate information at hand suggests the opposite - a decent buy.... more

1) Do updated homes sell faster, and 2) do staged homes sell faster. Clearly a seller can do one or both.

One helpful way to approach this is to think of yourself as a buyer. Would you be more likely to buy an older home with updated kitchen and baths than one that's still "original"? You would probably pay more for the updated home. Would it be more than it would cost to do the updating yourself? Do you want to have the grief of updating, along with the expense? In my experience, updated homes sell faster.

As for staging, it is a real improvement over a totally vacant home. It's hard for buyers to imagine how nice a home would be like with furniture in place if they're looking at a vacant room. In my experience staged vacant homes sell faster. Think like a buyer again. Two identical homes, one vacant and one staged. Which one will go first?

The important question you didn't ask is about COST of updating or staging. Read my blog post answering that question at http://bit.ly/pzoo61... more

Most of the "advice" you have gotten have been poorly veiled attempts to push listing services and give no solid advice. Other responses deal with vague information, failing to get to the guts of the matter you have asked about. None have answered your second question with any certainty - and all respondants fail to ask a most important questions. Here is the bottom line down and dirty honest response to what you have asked:

In response to waiting for the "seller's housing" market to return: Don't plan on properties in the LO or greater PDX area to regain values back to the artificial high during the boom. Despite what you might hear from the Realtors who like spin; LO has not finished dropping in value. Should it regain any substantial value it will be a long time coming and at a cost while you wait it out. Consider how much might you be over paying to support the debt on your property during this perod? If your mortgage is higher than the cost of renting or getting a new mortgage on a similar property then you are going against any tide of possble and very modest future increase in value. This needs to be factored into the big picture when considering any potential future increase in value. If you own our home free and clear then that's a different matter.

In answer to your first question, if you should sell now; The answer comes from evaluating two issues.
a) Repeating an earlier point: Is your property monthly cost higher than the cost to rent or buy a similar property at today's costs and mortgage interest rates?
b) Is your property underwater? (Do you own more than the current market value?)

If your answer is yes to both these questions then you need to dump the property now - without delay - as it is an upside down non performing investment. If your answer is yes to only one of these questions then there might be a reason to hold on - only so long as you can afford the monthly cost from your regular income and you are not using savings or other credit to maintain the mortgage and other payments associated with the property. Should you not afford the monthly payment then sell.

As a Lake Oswego Resident and Real Estate Broker, I can confidently say that Lake Oswego will always be in demand for discriminating buyers that want great schools, low crime, easy commutes and a small town atmosphere where family life, privacy and property values are a priority.

As with any major purchase, having the right professional that knows and understands the nuisances of the community so you can make an informed decision about your purchase is critical. There are some great deals, ok deals and not so good deals, but I can help.

If you are still looking for a home, please call me to discuss the opportunities out there and find out why my clients consistently say I have exceeded their expectations.